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☆ CNBC Daily Open: Dow sinks 600 points, Nvidia soars
▼ + stars: | 2024-05-24 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow sinks 600 pointsThe Dow Jones Industrial Average suffered its worst day of the year, dropping over 600 points on Thursday. Nvidia's blockbuster earnings and guidance failed to prop up markets, with more than 400 stocks on the S&P 500 trading lower. Nvidia popsShares of Nvidia soared as much as 11% after the AI chipmaker's earnings that beat Wall Street's estimates. Wall Street analysts are revising their price targets for Nvidia upwards after its blowout earnings and guidance.

Persons: Jensen Huang, Dow, Musk, Elon Musk, he's, Joe Biden, Tesla, Karen Tso, Brian West, General Merrick Garland Organizations: SAP Center, CNBC, Dow Jones, Boeing, Dow, Nasdaq, Treasury, Nvidia, U.S . Department of Justice, Ticketmaster, Wall, Microsoft Locations: San Jose , California, China

☆ These AI plays are still cheap even after this year's incredible Nvidia-driven bull run
▼ + stars: | 2024-05-24 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

That said, there are still some opportunities to buy AI stocks on the cheap. The stock's current forward price-to-earnings multiple at 20.1 is only slightly below its five-year average of 21.20. It is also cheap — the stock's current forward price-to-earnings multiple at 150.08 is significantly below its five-year average of 761.17. The stock is also trading at a discount to its five-year average, with a forward price-to-earnings ratio of 16. Other favored AI plays that meet the aforementioned criteria include Equinix , Adobe and Western Digital Corp .

Persons: Wall, Morgan Stanley, Snowflake, Tyler Radke, Joseph Moore, FactSet Organizations: Nvidia, Nasdaq, Dow Jones, CNBC Pro, Meta, Facebook, Citi Research, Micron Technology, Micron, Adobe, Western Digital Corp

☆ Stocks making the biggest moves premarket: Ross Stores, Intuit, Workday, Guardant Health and more
▼ + stars: | 2024-05-24 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in premarket trading: Intuit — The TurboTax parent company slipped nearly 6% after issuing weaker-than-expected fiscal fourth-quarter guidance . Intuit forecast adjusted earnings of $1.80 per share to $1.85 per share, while analysts surveyed by FactSet expected $1.92. Ross Stores — The discount apparel retailer stock added more than 7% on the heels of an earnings beat. Workday forecast subscription revenue of $1.895 billion, while the consensus forecast called for $1.9 billion, according to StreetAccount. Analysts surveyed by LSEG were looking for $2.89 in earnings per share on $888 million of revenue.

Persons: Cash, —, Jesse Pound Organizations: Intuit, Ross Stores, LSEG, Nvidia, U.S . Food, Drug Administration Locations: U.S

☆ Chelsea Manalo: First Black Filipina crowned as Miss Universe Philippines
▼ + stars: | 2024-05-24 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +3 min

CNN —Filipino American Chelsea Manalo became the first Black woman to be crowned Miss Universe Philippines on Wednesday. Chelsea Manalo will be representing the Philippines at the Miss Universe pageant in Mexico in September. Over 100 countries will be represented at Miss Universe 2024. The Miss Universe organization has come under scrutiny in recent weeks, as the parent company of the Miss USA organization. Both Miss USA and Miss Teen USA resigned from their roles earlier this May, amid allegations of mismanagement, a toxic work environment, and conditions that impacted their mental health.

Persons: Chelsea Manalo, “, ”, Manalo, Gloria Diaz, Margie Moran, Pia Wurtzbach, Steve Harvey, Catriona Gray Organizations: CNN, Chelsea, Miss, Philippines, Miss Universe Philippines, SM, Asia Arena, Miss Universe, TV, YouTube, Miss USA, Miss Teen USA Locations: Filipino, African American, Bulacan, Manila, Asia, Pasay, Philippines, Mexico, TV Philippines, Miss USA

☆ Another woman accuses Sean ‘Diddy’ Combs of sexually assaulting her in a lawsuit
▼ + stars: | 2024-05-24 | by ( Dalia Faheid | Elizabeth Wagmeister | ) edition.cnn.com time to read: +6 min

This is the eighth lawsuit against Combs since November – the seventh directly accusing him of sexual assault. Another lawsuit accused his son Christian Combs of sexual assault, and Sean Combs is accused of aiding and abetting. Lampros claims that Combs raped her after she “pleaded with Mr. Combs to stop.” “She was nude, sore, and confused” the next morning, according to the lawsuit. According to Lampros, she was also not allowed to talk about her relationship with Combs to anyone, the lawsuit claims. Mr. Combs would also threaten to blacklist her in the industry if she tried to mess with him in any way,” the suit said.

Persons: Sean “ Diddy ” Combs, Lampros, Combs, “, ” Lampros, Cassie Ventura, Christian Combs, Sean Combs, ”, “ Ms, Lampros “, she’s, Lampros ’, Tyrone Blackburn, Rodney Jones, Grace O’Marcaigh, Crystal McKinney, drugging, Aaron Dyer, “ Mr Organizations: CNN, New York’s Fashion Institute of Technology, Bad Boy Records, Arista Records, Sony Music Entertainment, Diddy’s, Records, Lampros, Department of Homeland Security Locations: New York, New York City, Manhattan

☆ The European housing crisis warping millennial life: The average Croatian lives with parents until 33
▼ + stars: | 2024-05-24 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +9 min

According to Eurostat, the EU statistical office, the average Croatian leaves their parents' home at over 33 years of age, its highest figure. Joshua Zitser/Business InsiderIn the US, almost everyone has moved out by then. Joshua Zitser/Business InsiderWhile tourism brings economic opportunities for Vukovic and many others, he says it has also worsened the already dysfunctional housing market. But in parts of Dubrovnik, Vukovic explained, that's not feasible. Joshua Zitser/Business InsiderFor Josip Crncevic, 34, prices feel far out of reach.

Persons: —, Joshua Zitser, Malohodžić, Ivan Vukovic, Vukovic, Filip Brkan, that's, Josip Crncevic, Crncevic, homeownership, it's, he'd, Marija, Sanja, Angelo, Cikato, Diana Marlais, Bogdan Dascalescu, wouldn't Organizations: Service, Croatian, Business, Eurostat, BI, UNESCO, Heritage, King's, Real Estate Business Association of, Croatian Chamber Locations: Dubrovnik's, Croatia, Dubrovnik, Independence, HBO's, Dubrovnik's suburbs, Marija

☆ My son decided to go to a college across the country. I'm already dreading my empty nest, but it's time to let him go.
▼ + stars: | 2024-05-24 | by ( Erika Ebsworth-Goold | ) www.businessinsider.com time to read: +4 min

AdvertisementI'll soon have an empty nest, with my bird nearly 2,000 miles away, and I'm already dreading it. He decided to go to college far from homeHis father and I are incredibly proud of him and know he's ready for this next big step. He's ready to be close to the ocean, meet new friends, and dive headfirst into his film studies. While our son is raring to go and ready to meet the world on his own terms, I'm not sure I'm ready for him to be thousands of miles away. In the meantime, get ready world.

Persons: He'll, whittle, I'm, raring Organizations: Service, Business, Grand Central Locations: East Coast, California, Los Angeles

☆ F1 dispute with Andretti Global draws in U.S. lawmakers
▼ + stars: | 2024-05-24 | by ( Chris Hawes | ) www.cnbc.com time to read: +5 min

Anna Moneymaker | Getty ImagesA dispute over whether to accept American motorsports giant Andretti Global as Formula One's 11th team is reaching boiling point. It's the latest twist in the Andretti saga, which started in October 2023 when the sport's governing body, the FIA, approved the American team's bid to join the grid. Three months later, F1, the sport's commercial arm, quashed the bid, arguing that Andretti wouldn't be competitive in 2025 or 2026. These new entrants would also be obliged to operate out of a region not currently represented by F1 teams. It isn't just in Washington where support for Andretti is growing, explained Andretti.

Persons: Mario Andretti, John James, Anna Moneymaker, Michael, Andretti, Stefano Domenicali, Domenicali, Tim Milne, Lewis Butler, Tim Cook, Red Bull's Max Verstappen Mike Segar, Zac Brown, it's, Fernando Alonso Organizations: Washington , DC, Andretti, Capitol, General Motors, Andretti Global, One's, Miami Grand, Liberty Media, NBC News, FIA, Formula, One, CNBC, Las Vegas, Prix, U.S, F1, United, Reuters Locations: Washington ,, U.S, Las Vegas, Saudi Arabia, United States, Americas, Austin , Texas, Washington, Miami

☆ X CEO Linda Yaccarino accuses Australia of 'overreach' after judge lifts ban on stabbing video
▼ + stars: | 2024-05-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

PARIS, France — X CEO Linda Yaccarino on Friday hit out at Australia after a face off with online safety regulators. It comes after the Elon Musk-owned social media platform X last week won a reprieve in Australia as a court refused to extend a temporary order blocking videos of a Sydney church stabbing. In a talk onstage at the VivaTech conference in Paris, Yaccarino accused Australia of overreach over the dispute. "The good news is that the people prevailed," Yaccarino, the former global advertising chief at CNBC parent company NBCUniversal, said. "We're happy to be that beacon of light and that place for truth."

Persons: Linda Yaccarino, Elon, Yaccarino Organizations: Elon Musk, eSafety, CNBC Locations: PARIS, France, Australia, Sydney, Paris, overreach

☆ The Taylor Swift Ticketmaster fiasco comes full circle as DOJ slams parent company with lawsuit
▼ + stars: | 2024-05-23 | by ( Katie Balevic | Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Over a year after Ticketmaster crashed, preventing rabid Taylor Swift fans from purchasing tickets to her concert tour, the DOJ has announced an antitrust lawsuit against Ticketmaster's parent company, Live Nation Entertainment. Advertisement"This has given Live Nation and Ticketmaster the opportunity to freeze innovation and bend the industry to their own benefit. The lawsuit comes after Ticketmaster fumbled a pre-sale event in late 2022 for Taylor Swift's Eras Tour as fans competed with bots for a limited number of tickets. AdvertisementIn response to the antitrust suit, Live Nation said that "calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court."

Persons: —, Taylor Swift, Merrick Garland, Taylor, Swift Organizations: Service, Ticketmaster, DOJ, Entertainment, Business, Justice Department, Department

☆ TikTok Is About to Become Even More Powerful Thanks to Millennials
▼ + stars: | 2024-05-23 | by ( Emilie Friedlander | ) www.businessinsider.com time to read: +14 min

"I have friends that say that TikTok Shop has ruined the app," Casey Lewis, a trends researcher, said. "It can be good — especially as TikTok moves to TikTok Shop — if they're able to capitalize on this shift and sell products more effectively to older users." Just because something is going viral on TikTok doesn't necessarily mean Gen Z is behind it. The same could be said of Gen Z, which would explain the generations' shared fascination with a time before smartphones and round-the-clock news. The Gen Z users I spoke with didn't seem particularly concerned about an influx of olds.

Persons: Keara Sullivan, Zers, Rushmore, Sullivan, Ryan Broderick, Adam Bumas, Broderick, TikTok, —, Cory Doctorow, it's, Kevin Munger, Doctorow, Casey Lewis, Lewis hasn't, Gen Zers, Jonathan Gelfond, Taylor Lorenz, Lorenz, Munger, Gen Z, Lewis, Stanley, Alpha, Zers —, Gen Alpha, hasn't, millennials, Jason Parham, Leslie Horn Petersen, she's, Gen, didn't, I've, Emilie Friedlander Organizations: New, Pew Research Center, Facebook, Senate, Microsoft, Penn State, Little League, Business, QVC, UC Santa Barbara, The Washington Post, YouTube Locations: New York, tfym, millennials, Brooklyn, Philadelphia

☆ Live Nation, Ticketmaster’s parent company, sued in groundbreaking monopoly lawsuit
▼ + stars: | 2024-05-23 | by ( Brian Fung | Hannah Rabinowitz | ) edition.cnn.com time to read: +6 min

Washington CNN —The US government and dozens of states sued Live Nation in a groundbreaking antitrust lawsuit on Thursday, alleging that for years the parent company of Ticketmaster abused its industry dominance to harm concertgoers nationwide. It is time to break up Live Nation-Ticketmaster.”In a statement, Live Nation called the DOJ’s allegations “baseless.”“The DOJ’s lawsuit won’t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows,” Live Nation said in a statement. The lawsuit highlights how regulators now believe, more than a decade on, that the behavioral modifications Live Nation agreed to have failed. According to the lawsuit, Live Nation directly manages more than 400 artists, controls around 60% of concert promotions at major concert venues across the country, and controls more than 265 concert venues in North America. And through Ticketmaster, the suit says, Live Nation controls roughly 80% or more of major concert venues’ primary ticketing for concerts.

Persons: Taylor Swift’s, ”, General Merrick Garland, Swift, Robert Smith, Zach Bryan, Minnesota Democratic Sen, Amy Klobuchar, Connecticut Democratic Sen, Richard Blumenthal, Klobuchar, Blumenthal, John Cornyn, Ted Cruz, Biden, ramping Organizations: Washington CNN, Ticketmaster, Justice Department, Prosecutors, ”, “, DOJ, Regulators, Minnesota Democratic, Connecticut Democratic, Texas Republican, District of Columbia, Court, Southern, of Locations: New York, United States, Texas Republican Sens, North America, Arizona , Arkansas , California , Colorado , Connecticut, Florida , Illinois, Maryland , Massachusetts, Michigan, Minnesota , Nevada , New Hampshire , New Jersey , New York, North Carolina , Ohio , Oklahoma , Oregon , Pennsylvania, Rhode Island , South Carolina , Tennessee , Texas, Virginia, Washington, West Virginia , Wisconsin , Wyoming, of New York

The U.S. Department of Justice is suing to break up Live Nation, the parent company of Ticketmaster, over alleged antitrust violations. "The DOJ's complaint attempts to portray Live Nation and Ticketmaster as the cause of fan frustration with the live entertainment industry. Live Nation and Ticketmaster merged in 2010, creating a dominant entity in the live event industry. Through Ticketmaster, Live Nation controls roughly 80% or more of major concert venues' primary ticketing for concerts, the complaint said. Live Nation earlier this month reported its "biggest Q1 ever," citing first-quarter revenue that was up 21% from the prior-year period.

Persons: Taylor, General Merrick Garland, Dan Wall, Taylor Swift Organizations: U.S . Department of Justice, Ticketmaster, DOJ, The Justice Department, Southern, of, Oak View, Nation, Live Locations: United States, North America, U.S, of New York

☆ Jennifer Lopez and Ben Affleck: A timeline of their love story
▼ + stars: | 2024-05-23 | by ( Lisa Respers France | ) edition.cnn.com time to read: +10 min

CNN —Plenty of people are wondering if Jennifer Lopez and Ben Affleck are having problems in their marriage, but one person had the nerve to ask in a public forum. Ben Affleck and Jennifer Lopez in "Gigli." “Jennifer Lopez and Cris Judd have announced they have resolved all issues arising out of their marriage,” the couple’s lawyers said in a statement at the time. “I feel so lucky and happy and proud to be with him,” Lopez told People magazine about reuniting with Affleck. February 2024Ben Affleck and Jennifer Lopez attend a premiere for the film "This Is Me... Now: A Love Story" in Los Angeles in February.

Persons: Jennifer Lopez, Ben Affleck, Lopez, ” Lopez, Affleck, Ben, Jen, “, ”, Chris Judd, “ Jennifer Lopez, Cris Judd, Jenny, Ari Finegold, Harry Winston, Affleck –, Cohen, ’, Marc Anthony, Paul Hawthorne, “ Marc, Jennifer Garner, Anthony, There’s, Garner, I’ve, Alex Rodriguez, Dimitrios Kambouris, Richard Foreman, Warner, Affleck raved, Rodriguez, Filippo Monteforte, Matt Damon, Kevin Smith, Mario Anzuoni, Reuters Lopez, ’ ”, it’s, you’re, We’re Organizations: CNN, Getty, Warner Bros, Latina, Los, Venice Film, Wall Street, People, Reuters Locations: Mexico, ”, Jersey, Los Angeles, AFP, Venice, Italy, Las Vegas, Savannah , Georgia

☆ Stocks making the biggest moves before the bell: NVDA, LYV, SNOW
▼ + stars: | 2024-05-23 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Snowflake posted $829 million in revenue, while analysts polled by LSEG had called for $786 million. Adjusted earnings for the period came in at 14 cents a share, however, missing the consensus estimate by 4 cents. Beauty — The cosmetics maker added 3.4% after easily surpassing consensus forecasts from analysts surveyed by FactSet for the fiscal fourth quarter. posted 53 cents in earnings per share, excluding items, on $321.1 million in revenue, while analysts penciled in just 33 cents on $292.6 million in revenue. On top of that, LiveRamp offered firm revenue guidance for both the current quarter and full year.

Persons: Snowflake, LSEG, NetEase, FactSet, e.l.f, LiveRamp, Cytokinetics, Goldman Sachs, Morgan Stanley, Ed Bred, Lori Koch, Alibaba, GoodRX, —, Jesse Pound, Pia Singh, Yun Li, Tanaya Macheel, Sarah Min, Michelle Fox Organizations: Nvidia, Micro, Taiwan Semiconductor, Bloomberg, Department of Justice, of, News, Corp, JPMorgan, DuPont de Nemours, DuPont, Bloomberg News, Bank of America, RBC, Hasbro —, Hasbro Locations: Southern, of New York, —

☆ Paris Hilton will not let her children have smartphones: 'Some kids are getting phones way too young'
▼ + stars: | 2024-05-23 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +2 min

The movement of parents concerned by their kids' smartphone use just gained an unlikely disciple: socialite and DJ Paris Hilton. Hilton isn't alone in thinking smartphones can cause damage to young kids. "The biggest effects of social media happened during puberty, especially early puberty," he says. No social media before age 16. "There's no clear evidence that giving children access to social media early is better able to prepare them for adulthood later on," Rausch says.

Persons: DJ Paris Hilton, doesn't, Hilton, Johnathan Haidt, Z, Zach Rausch, Rausch Organizations: DJ Paris, Everything, Entertainment, NYU, Stern School of Business, CNBC

☆ My mom and I live on different continents, but we're closer than ever. We text every day and FaceTime every weekend.
▼ + stars: | 2024-05-23 | by ( Demi Drew | ) www.businessinsider.com time to read: +4 min

Courtesy Demi DrewI've only seen her 3 times since I movedIn seven years, I've seen my mom three times. Collectively, I've spent six weeks with her the entire time I've lived abroad. I remember having my heart broken for the very first time, sobbing hysterically to my mom on FaceTime and being unable to hug her. Photo credit: Mauricio MerinoI actually appreciate her more nowDespite the 9,000 miles that separate us, my mom and I are closer than ever. Finding ways to connect with my mom and the life she lives in South Africa means being intentional with my time and how I choose to spend it.

Persons: I've, Demi Drew, Demi Drew I've, Demi Drew's, hysterically, I'm, Mauricio Merino Organizations: Business, Bridge, Central, Netflix Locations: Brooklyn , New York, Port Alfred, South Africa, New York, Central Park

Morgan Stanley accompanied the move by cutting its price target to $100 from $120. His $185 price target, up from $160, forecasts that shares of Take-Two could rally 23% from Wednesday's close. — Lisa Kailai Han 5:55 a.m.: Bernstein initiates Ford at an outperform rating Investors who don't own Ford are missing out, according to Bernstein. — Lisa Kailai Han 5:55 a.m.: JPMorgan upgrades Hasbro Don't expect Hasbro's momentum to slow in the near future, according to JPMorgan. It also raised its price target on shares to $74 from $61, implying upside of 22%.

Persons: Bernstein, Morgan Stanley downgrades NetEase, Morgan Stanley, Alex Poon, Poon, Lisa Kailai Han, Omar Dessouky, Dessouky, — Lisa Kailai Han, Sam Poser, Sean Dodge, Dodge, GoodRx, Ford, Daniel Roeska, Roeska didn't, Roeska, Christopher Horvers, Fred Imbert Organizations: CNBC, Ford, JPMorgan, Hasbro, NetEase, Bank of America, Rockstar Games, Rockstar, Supreme, Corp, Trading, EMEA, Timberland, RBC, RBC Capital Markets, pharma, Kroger Locations: China, Wednesday's, Americas

☆ ‘It sucks for all of us.’ Charles Barkley says the quiet part aloud as TNT’s NBA future in doubt
▼ + stars: | 2024-05-23 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

CNN —The situation at Warner Bros. Discovery’s TNT network “sucks, plain and simple,” Charles Barkley bluntly said Thursday. Barkley, who said he feels “so bad for the people” he works with, laid blame at the feet of the “clowns” atop WBD. Wall Street has responded quite negatively to the possibility WBD, which has built a programming slate around the NBA, could lose the rights to air the games. And TNT has built a programming slate around the NBA games, most notably the highly rated “Inside the NBA” show. Losing the rights to NBA games could throw aspects of that business partnership into question.

Persons: ” Charles Barkley, NBA ”, Dan Patrick, ”, Barkley, ” Barkley, David Zaslav’s, Adam Silver, Turner, Bloomberg’s Lucas Shaw, WBD, “, Shaw, ” Shaw, Joe Flint, Amol Sharma, Isabella Simonetti, Zaslav, Venu, That’s, Gunnar Wiedenfels, Wiedenfels, ” Wiedenfels, there’s, you’ve Organizations: CNN, Warner Bros, TNT, NBA, Turner, Comcast, WSJ, WBD, NCAA, MLB, NHL, NASCAR, College Football, ESPN —, Disney, Fox Corp, Morgan’s Technology, Media & Communications Locations: WBD

☆ Stocks making the biggest moves midday: Nvidia, Boeing, Live Nation Entertainment and more
▼ + stars: | 2024-05-23 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Nvidia — The chipmaker and artificial intelligence beneficiary spiked 11% after Nvidia posted strong fiscal first-quarter results , issued better-than-expected guidance and announced a 10-for-1 stock split. Live Nation Entertainment — Shares dropped 7% after the U.S. Department of Justice sued to break up the parent company of Ticketmaster, alleging antitrust violations . The cosmetics maker posted fourth-quarter adjusted earnings of 53 cents per share on revenues of $321.1 million. Snowflake had posted $829 million in revenue, surpassing the consensus forecast of $786 million, per LSEG. Adjusted earnings for the period came in at 14 cents a share, however, falling short of analysts' consensus estimate by 4 cents.

Persons: Brian West, LSEG, LiveRamp, GoodRx, Snowflake, Goldman Sachs, Morgan Stanley, — CNBC's Michelle Fox, Pia Singh Organizations: Nvidia, Micro Computer, Boeing —, Boeing, U.S . Department of Justice, Ticketmaster, RBC, Taiwan Semiconductor Manufacturing, Taiwan Semiconductor, Machinery, Titan Machinery, Triumph, JPMorgan, Corp, LSEG, Revenue

☆ Meta is considering new paid deals with media publishers for AI training data
▼ + stars: | 2024-05-22 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

Meta may need such access to make its generative AI tools, like Meta AI, more effective for users and more competitive in the increasingly crowded market of generative AI search tools and chatbots, the people said. User posts and comments on Facebook or Instagram are not necessarily the type of high-quality training data that generative AI chatbots and search tools need to generate quality outputs. Previously, Zuckerberg said he did not expect the generative AI boom. The US Copyright Office is considering new rules to cover generative AI. Major rival tech companies now fiercely competing in generative AI have already entered into deals with news publishers and media outlets for more access to content to be used as model training data.

Persons: Meta, Mark Zuckerberg, Zuckerberg, Dotdash Meredith, Axel Springer, OpenAI, Kali Hays Organizations: Service, Meta, Facebook, Business, News, Google, US, News Corp, Financial, Associated Press, BI, Politico, Microsoft, The New York Times, Times Locations: Europe, khays@businessinsider.com

☆ Stocks making the biggest moves premarket: Target, Lululemon, Shopify and more
▼ + stars: | 2024-05-22 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Target — Target's shares tumbled more than 7% after first-quarter earnings missed estimates, driven by a year-over-year sales decline of about 3% as consumers bought fewer discretionary items. Shopify — The retail software stock rose 2.6% following a Goldman Sachs upgrade to buy from neutral. Urban Outfitters — The clothing retailer added 1.8% after beating Wall Street estimates for fiscal first-quarter results. PDD — PDD Holdings, the Chinese parent of discount retailer Temu, gained 7.6% after reporting a 131% increase in first-quarter revenue. Analysts surveyed by LSEG were looking for $4.14 per share on $2.53 billion of revenue.

Persons: —, Goldman Sachs, Morgan Stanley, Alex Harring, Jesse Pound, Sarah Min Organizations: Outfitters, Wall, Urban, PDD Holdings, Toll, Citi, Wall Street Journal

☆ Nvidia, Powered by A.I. Boom, Reports Soaring Revenue and Profits
▼ + stars: | 2024-05-22 | by ( Don Clark | ) www.nytimes.com time to read: +1 min

Nvidia, which makes microchips that power most artificial intelligence applications, began an extraordinary run a year ago. Fueled by an explosion of interest in A.I., the Silicon Valley company said last May that it expected its chip sales to go through the roof. They did — and the fervor didn’t stop, with Nvidia raising its revenue projections every few months. Its stock soared, driving the company to a more than $2 trillion market capitalization that makes it more valuable than Alphabet, the parent of Google. On Wednesday, Nvidia again reported soaring revenue and profits that underscored how it remains a dominant winner of the A.I.

Persons: sevenfold Organizations: Nvidia, Google, Revenue Locations: A.I

☆ I deleted Gmail and Slack from my phone. I wanted to do better as a parent — but it's also been surprisingly great for my work.
▼ + stars: | 2024-05-22 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on a transcribed conversation with Rebecca Cafiero, 44, from Palo Alto, California, about deleting work-related communication apps from her phone. I was on my phone, and my son, who was six then, wanted me to play a game with him. I started by setting screen limits and eventually deleted work-related communication apps from my phone. AdvertisementI used to wake up and check my emails immediately, but I no longer let communication apps control my day. I've since deleted about a third of the apps I used to have on my phone, as I felt I wasn't even using them.

Persons: —, Rebecca Cafiero, Slack, It's, I'd, I'm, it's, I've Organizations: Service, Business, Google Locations: Palo Alto , California, Silicon Valley

☆ The CEO behind the world's biggest science and engineering fair says the biggest mistake parents make is putting too much pressure on their kids
▼ + stars: | 2024-05-22 | by ( Jenny Mcgrath | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +6 min

"But they also feel the pressure of wanting to win and the pressure of going to college," she told Business Insider last week. The biggest mistake that parents with ambitious, curious kids can make is adding to that pressure, she said. Stepping back and letting the kids do the workGrace Sun holds an OECT device that helped her win the ISEF science fair. "We never pressure them," Maria Estrada, whose two children have both competed and won awards at ISEF, told Business Insider. Sun told Business Insider she had to miss hours of school to work in a university lab for her project.

Persons: —, Rhodes, it's, Ajmera, Gen Z, Grace Sun, Chris Ayers, Maria Estrada, Estrada, she's, Alexa Groff, Taylor, Groff, ISEF, Maddux Alexander Springer, Peggy Scripps, Krish Pai, Michelle Wei, George D Organizations: Service, Science, Engineering, MacArthur Foundation, Business, Society for Science, ISEF, Communication, Sun Locations: Hawaii, California, Kildare, Ireland, Shanghai, China, Los Angeles

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